The USD/INR pair gapped lower on Thursday and hit a three-month low of 70.05. The pair is currently trading below 70.19 – 38.2 percent Fibonacci retracement of 63.25/74.49. Daily Chart As seen above, the 14-day relative strength index (RSI) has fallen back below 30.00, signaling oversold conditions. As a result, bearish momentum may wane in the short-term. 4-hour Chart Over on the 4-hour chart, the pair has closed new cycle low. The RSI, however, is charting a higher low, that is, a bullish divergence would be confirmed if the currency or the next 4-hour candle closes on a positive note. The pair may revisit 10-day EMA hurdle, currently at $70.90. The outlook would remain bearish as long as the 5- and 10-day EMAs are trending south. A daily close above the 10-day EMA, however, would neutralize the bearish setup. Trend: Corrective bounce likely USD/INR Overview:     Today Last Price:  70.095     Today Daily change:  -3.0e+3  pips     Today Daily change %:  -0.419%     Today Daily Open:  70.39 Trends:     Previous Daily SMA20:  71.9162     Previous Daily SMA50:  72.7877     Previous Daily SMA100:  71.3876     Previous Daily SMA200:  68.9975 Levels:     Previous Daily High:  71.045     Previous Daily Low:  70.38     Previous Weekly High:  72.102     Previous Weekly Low:  70.495     Previous Monthly High:  74.504     Previous Monthly Low:  72.525     Previous Daily Fibonacci 38.2%:  70.634     Previous Daily Fibonacci 61.8%:  70.791     Previous Daily Pivot Point S1:  70.165     Previous Daily Pivot Point S2:  69.94     Previous Daily Pivot Point S3:  69.5     Previous Daily Pivot Point R1:  70.83     Previous Daily Pivot Point R2:  71.27     Previous Daily Pivot Point R3:  71.495  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia: Capex data reaffirms the RBA’s upbeat outlook – TDS FX Street 4 years The USD/INR pair gapped lower on Thursday and hit a three-month low of 70.05. The pair is currently trading below 70.19 - 38.2 percent Fibonacci retracement of 63.25/74.49. Daily Chart As seen above, the 14-day relative strength index (RSI) has fallen back below 30.00, signaling oversold conditions. As a result, bearish momentum may wane in the short-term. 4-hour Chart Over on the 4-hour chart, the pair has closed new cycle low. The RSI, however, is charting a higher low, that is, a bullish divergence would be confirmed if the currency or the next 4-hour candle closes on a positive note.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
